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Thread: Should taxpayer money be used to pay for student loans?

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Rocketman View Post
    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.
    I think some federal loan and/or grant money should be available, but only to students who are unable to get traditional private college loans and whose financial situation would mean they were otherwise unable to go to college.

    And I think all college loans should become more like small business loans. To get one, you have to submit a plan on what exactly you intend to do at college. What degree you plan to get, and what your employment plans are after college. And if you aren't sticking to it (or you're getting bad grades because of too much drunken partying) the money gets cut off. It would cut down a lot on the people who take out tens of thousands of dollars in loans to go to college and end up with crappy jobs because they got useless degrees.

    And I do think you should be able to get out of student loans by filing for bankruptcy. I see no reason why they should be treated differently than other types of loans.
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by molten_dragon View Post
    I think some federal loan and/or grant money should be available, but only to students who are unable to get traditional private college loans and whose financial situation would mean they were otherwise unable to go to college.

    And I think all college loans should become more like small business loans. To get one, you have to submit a plan on what exactly you intend to do at college. What degree you plan to get, and what your employment plans are after college. And if you aren't sticking to it (or you're getting bad grades because of too much drunken partying) the money gets cut off. It would cut down a lot on the people who take out tens of thousands of dollars in loans to go to college and end up with crappy jobs because they got useless degrees.

    And I do think you should be able to get out of student loans by filing for bankruptcy. I see no reason why they should be treated differently than other types of loans.
    Very astute post. I agree with the first two paragraphs. However, I don't agree with the last two sentences. Having said that, it's not just that easy to eliminate all debt these days, school or not. They've cracked down on people trying to C7 or C13 their way out of trouble.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Rocketman View Post
    I read a USA Today article this week where a former student was whining because his student loan had a balance of $58,000 forcing him to file chapter 13 but interest on this loan would keep climbing. Are we supposed to feel sorry for him? He spent it, he should pay it back.
    I do not know if its just me but schools seem to be pumping out degrees left and right regardless if there is a need or no need for people with those degrees.So I think these schools should be held accountable for students who are unable to fund jobs that require those degrees. This would discourage schools from pumping out degrees left and right.If the government is forking out these loans then automatically certain degrees should be off limits (based on studies projecting the likelihood of someone finding work with those degrees). Schools should be required by law to inform all potential students which degrees will be in demand when they graduate.
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Gipper View Post
    However, I don't agree with the last two sentences. Having said that, it's not just that easy to eliminate all debt these days, school or not. They've cracked down on people trying to C7 or C13 their way out of trouble.
    I'm curious why you don't agree with student loans being treated no differently than other types of loans when it comes to declaring bankruptcy? As you pointed out, it's considerably harder to completely avoid debts when declaring bankruptcy than it used to be. Why do you think student loans need to be treated specially?
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Unitedwestand13 View Post
    if he can not find a job, how can he pay it back?
    He should of thought about that before he got the loans.
    Last edited by Navy Pride; 10-02-13 at 10:10 PM.
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    Re: Should taxpayer money be used to pay for student loans?

    I don't believe you can declare bankruptcy to get out of student loans.
    Quote Originally Posted by Bucky View Post
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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by Navy Pride View Post
    Is this a poll? where are the options?
    it did not come up

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by molten_dragon View Post
    I'm curious why you don't agree with student loans being treated no differently than other types of loans when it comes to declaring bankruptcy? As you pointed out, it's considerably harder to completely avoid debts when declaring bankruptcy than it used to be. Why do you think student loans need to be treated specially?
    Well, I think it should be harder for all debt to be cleared, but in the case of student loans...well, I guess I'd be somewhat okay with it if it was enacted under a system you described. I was thinking more about how it is now.

    I think you've done a good job at helping to eliminate a free rider system when it comes to education and expense. I'd probably need to see some figures and statistics, under a system enacted the way you envisioned, before making a more permanent opinion about the layout of debt forgiveness.

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by CriticalThought View Post
    I don't believe you can declare bankruptcy to get out of student loans.
    you can't, but you can declare 13 to get out of other bills

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    Re: Should taxpayer money be used to pay for student loans?

    Quote Originally Posted by jamesrage View Post
    I do not know if its just me but schools seem to be pumping out degrees left and right regardless if there is a need or no need for people with those degrees.So I think these schools should be held accountable for students who are unable to fund jobs that require those degrees. This would discourage schools from pumping out degrees left and right.If the government is forking out these loans then automatically certain degrees should be off limits (based on studies projecting the likelihood of someone finding work with those degrees). Schools should be required by law to inform all potential students which degrees will be in demand when they graduate.
    this is already done for the most part

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